Are You For or Against the Bailout?

October 1st, 2008 • Related • Filed Under
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No wonder why Americans are skeptical.  The very people that got us into this financial mess are the ones now trying to tell us they need  700 billion dollars to get us out of it.

Our dollars.

Maybe it makes sense. But let’s be honest:  How do we know whether it makes sense or not? It’s a global quagmire like no other.

Who should we trust to tell us what’s really going on?  George Bush?!? The man who’ll undoubtedly go down in in the record books as the worst president in the history of the United States?  The pawn of oil and big business?

Or hundreds of economists around the country that are saying “just say no” to bailout?

I trust Barney Franke, who’s for the bailout, but I probably wouldn’t trust the people he’s getting his information from.

These are my observations:

  • It’s a very complicated problem, so how can a competent plan be put together in just 8 days?
  • Everyone wants this behind us quickly, perhaps more quickly than is possible.
  • If we give these sharks all this money, what’s to stop them from doing it again?
  • What about all the banks that played by the sane rules in spite of deregulation, and are now holding their own, even in such shaky times?
  • I heard someone say today: “In our country we put the crooks in jail.  In America, they bail them out.”

And my conclusion:

Even as my 401k plunges to depths unkown, and many reputable people such as Barak Obama tell us it’s the right thing to do, I’m skeptical that this bailout is the best solution to this crisis for us little guys.

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There Are 5 Responses So Far. »

  1. Comment by Jenni on 2 October 2008:

    I was and am still against this bailout. It will benefit the corporations, those on Wall Street, but not make it to the common man. Who is the one to be left holding the bag, and being told it is for their own good. We are told we have billionaires living in this country, where were they when we needed them to invest in their country, a bank, and help us all out. Now our grandchildren, great grandchildren will be paying this back for generations to come. They didn’t seem to listen to the people. The first time they did. But since WA has a big investment of their own personal money, it would be to their benefit that this has happened. Aside from some of the shows that bother people, not us open minded ones, but the show last night on coasttocoastam.com was very enlightening. If you get a chance to streamlink and hear it, you would hear stuff about this situation, from people who have worked in it for years, that you will never hear in mainstream media. I wish mainstream media was more for us, although I don’t think Rupert Murdoch thinks of himself as one of us. He and Malcolm Forbes could of stepped in taken care of this, and been heroes. You need to watch the money flow, which direction it goes, to know how things really are. Research, we have the internet, educate yourself as much as you can, and share that info with those who can’t do it for some reason. Now, the future will be bumpy ride.
    We need to take back our federal banks back under our control. The Federal Reserve Bank, is a private bank, and not ours, they are in for what they can get from us. Congress handed that over years ago. And they took the gold to back up those dollars away, God only knows where that is now, not Fort Knox. And why is the economy put on our backs, to buy to keep it going. When was that switch made? From the stuff we exported, to us?

  2. Comment by The Hawg on 3 October 2008:

    Completely against it. A combination of government fiscal policy, corporate greed and impatient consumers are to blame for this. The government “encouraged” banks to extend mortgages to people who might or might not be able to make their payments, some lenders went crazy with subprimes and a lot of people jumped at the chance to get homes they couldn’t afford because of insane introductory mortgage offers.

    We taxpayers who have been out doing the right things (i.e., buying homes we could afford, putting money down on them and financing through 30-year, fixed mortgages) shouldn’t be called on to fix this mess.

    Let the market reset, get rid of insane lending policies and we’ll be better off in the longterm.

    The Hawgs last blog post..A little housekeeping…

  3. Comment by Lisa on 3 October 2008:

    @ The Hawg and Jenni - sigh they just passed it. I still don’t trust them. If I hadn’t been noticing the increased job loss and lack of money for businesses to borrow, I’d be upset. Maybe, they’re right, we shall see. Thanks for your comments- L

  4. Comment by steven wilson on 4 October 2008:

    The bail out plan was put together way to quick to work in my opinion.How can one come up with a solution to fix the problem they say started as early as the Clinton days.Washington cannot be trusted with anything when it comes to helping out the middle or lower class.

    steven wilsons last blog post..Microsoft Grants Windows XP Yet Another Reprieve

  5. Comment by Trackbacks on 18 November 2008:

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